Conning Inc. Has $36.46 Million Stock Holdings in McDonald's Corporation (NYSE:MCD)

Conning Inc. decreased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 116,723 shares of the fast-food giant's stock after selling 11,808 shares during the quarter. McDonald's accounts for approximately 1.3% of Conning Inc.'s holdings, making the stock its 18th biggest holding. Conning Inc.'s holdings in McDonald's were worth $36,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MCD. Brighton Jones LLC raised its holdings in shares of McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after buying an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in McDonald's by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after acquiring an additional 52 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in McDonald's by 15.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after acquiring an additional 27,774 shares in the last quarter. GHE LLC raised its stake in shares of McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock worth $4,255,000 after acquiring an additional 136 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of McDonald's in the fourth quarter worth about $281,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MCD shares. TD Securities reissued a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Robert W. Baird increased their price objective on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. BMO Capital Markets restated an "outperform" rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald's in a research report on Monday, May 5th. Finally, Piper Sandler raised their price target on McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $321.17.

McDonald's Stock Down 0.3%

MCD opened at $293.80 on Friday. The stock has a market cap of $210.08 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.08 and a beta of 0.53. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a fifty day simple moving average of $306.57 and a 200 day simple moving average of $302.37.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company earned $2.70 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.41%. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 2,817 shares of company stock worth $865,843. Company insiders own 0.25% of the company's stock.

McDonald's Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.

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